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  # 148
BOS Marine Finance Prizewinners
Commemorating the introduction of a 15yr mortage
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Urib Marine Finance

Bank of Scotland Marine Finance





* In calculating the APR, no account is taken of any variation in the rate of interest charged under the agreement. The rate of interest is linked to the Finance House Base Rate and will vary as that rate varies from time to time. All figures are inclusive of VAT.


The UK's leading marine finance provider, Bank of Scotland Marine Finance recently celebrated the launch of its first 15 year marine mortgage at the Southampton Boat Show with an impressive prize draw. They are now proud to announce the winners.

Any visitors to the Bank of Scotland Marine Finance stand at the Southampton Boat Show were invited to enter the "15" themed prize draw.
The winners and prizes were as follows:

1st Prize - Mr Murphy of Northants - Winning an original seascape painting by renowned and unique artist, Peter Brown.

2nd Prize - Mr Moon of Felixstowe - Winning a luxurious meal for two on the 15th November at Jamie Oliver's Fifteen restaurant in London. (You may recall the television documentary.)

3rd Prize - Mr Willis of Devon - Winning the Top 15 CD singles from the UK Top 40 chart, courtesy of Woolworths Plc.

The 15 Year Mortgage - Previously only available over a period of 10 years, marine mortgages have been increasing in popularity as boat owners take advantage of this method of funding. The new product is available for new boats and boats up to 5 years old.

With the option to spread mortgage repayments over a greater number of years, the monthly cost of a mortgage could significantly decrease. For example, if you were to purchase a boat that cost £150,000, you would pay a deposit of £30,000 and take out a mortgage of £120,000. Over ten years the repayments would be £1,332.25 (6.1 variable APR*) whereas over fifteen years the repayments would be £1,012.63 (6.1 variable APR*)